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Trump extended China-U.S. tariff agreement by 90 days.
The market opened higher on Monday. Hang Seng index opened up 88 points, H share index up 23 points and technology index up 10 points. Alibaba rose 1.46% for 28-point gain. HSBC ro...
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Trump extended China-U.S. tariff agreement by 90 days.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market opened higher on Monday. Hang Seng index opened up 88 points, H share index up 23 points and technology index up 10 points. Alibaba rose 1.46% for 28-point gain. HSBC rose 0.81% for 16-point gain. HK Exchanges rose 1.03% for 8-point gain. Techtronic rose 1.7% to become the top gainer at opening. Shanghai composite index opened down 4 points. The market turned from gain to loss after opening and then to gain again. Xiaomi lost 1% for 12-point loss. Meituan lost 0.9% for 9-point loss. On the other hand, HSBC rose 1.3% for 26-point gain. Alibaba rose 0.957% for 16-point gain. AIA rose 1.15% for 14-point gain. The market turned negative in midmorning as technology and mainland banks fell to drag down the market. Tencent lost 1.16% for 24-point loss. Xiaomi lost 0.78% for 11-point loss. CCB lost 0.88% for 12-point loss. ICBC lost 1.3% for 10-point loss. CATL’s Jiangxi lithium mine would stop production for three months. Share price rose 1%. It’s competitors rose sharply. Ganfeng Lithium rose 18.5%. Tianqi Lithium rose 14%. EV shares rose. XPeng rose 7.6%. Nio rose 3.75%. BYD rose 1.1%. Geely rose 2.8%. The market turned from loss to gain near midday. HSBC rose 1.63% for 31-point gain. Alibaba rose 1.72% for 33-point gain. Shanghai composite index closed the morning up 18 points. Hang Seng index closed the morning up 48 points, H share index up 1 point and technology index up 6 points. Turnover was $121.3 billion.

The market was little changed in the afternoon. Hang Seng index rose under 100 points. Alibaba rose 1.8% for 34-point gain. HSBC rose 1.4% for 28-point gain. Techtronic rose 4% for 9-point gain. On the other hand, Meituan lost 1.57% for 16-point loss. Xiaomi lost 0.97%¸ for 14-point loss. ICBC lost 1.3% for 10-point loss. Handset suppliers rose. BYD Electronic rose 6.6% to lead the gainers. Sunny Optical rose 1.2%. AAC rose 3.75%. Mainland developers rose. Longfor rose 2.36%. CR Land rose 2.1%. Bitcoin reached US$120000 each. Crypto shares rose sharply. OKG Tech rose 14%. Granshores rose 10% and Sinohope rose 10%. The market turned from gain to loss in midafternoon as Meituan, Xiaomi and ICBC led the fall. The market turned from loss to gain in late session . Hang Seng index closed up 48 points. H share index closed down 7 points and technology index down a fraction. Turnover was 200.9 billion.

Overnight, European markets were mixed. DAX lost 81 points and CAC rose 44 points but FTSE lost 34 points. US markets fell. Dow Jones lost 200 points. S & P lost 16 points and Nasdaq lost 64 points. Hong Kong ADR’s lost 95 points and night futures lost 142 points. Trump extended the temporary US-China tariff agreement by another 90 days. We expect the market to rise today. 
 
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